Insider Buying: OFG Bancorp (NYSE:OFG) Director Buys $808,400.00 in Stock

OFG Bancorp (NYSE:OFG) Director Edwin Perez acquired 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, November 21st. The stock was bought at an average price of $20.21 per share, with a total value of $808,400.00. Following the completion of the acquisition, the director now directly owns 5,000 shares of the company’s stock, valued at $101,050. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink.

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OFG Bancorp stock traded up $0.58 during mid-day trading on Friday, reaching $21.64. 298,295 shares of the company’s stock were exchanged, compared to its average volume of 319,705. The business’s fifty day simple moving average is $21.26 and its 200 day simple moving average is $21.41. The company has a quick ratio of 1.05, a current ratio of 1.05 and a debt-to-equity ratio of 0.14. The firm has a market capitalization of $1.08 billion, a PE ratio of 14.24 and a beta of 1.59. OFG Bancorp has a one year low of $14.96 and a one year high of $24.95.

OFG Bancorp (NYSE:OFG) last announced its quarterly earnings data on Monday, October 21st. The bank reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.45 by $0.03. The company had revenue of $102.89 million during the quarter, compared to analyst estimates of $97.40 million. OFG Bancorp had a return on equity of 10.36% and a net margin of 17.12%. On average, sell-side analysts forecast that OFG Bancorp will post 1.78 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Tuesday, December 31st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.29%. The ex-dividend date of this dividend is Monday, December 30th. OFG Bancorp’s payout ratio is presently 18.42%.

Several equities analysts recently issued reports on the stock. ValuEngine lowered shares of OFG Bancorp from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Zacks Investment Research downgraded OFG Bancorp from a “hold” rating to a “sell” rating in a research note on Thursday, October 24th.

Institutional investors and hedge funds have recently made changes to their positions in the company. Marshall Wace North America L.P. purchased a new position in shares of OFG Bancorp during the first quarter worth about $53,000. Tower Research Capital LLC TRC lifted its holdings in shares of OFG Bancorp by 168.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,037 shares of the bank’s stock worth $72,000 after acquiring an additional 1,906 shares during the last quarter. Quantamental Technologies LLC lifted its holdings in shares of OFG Bancorp by 19.8% during the 2nd quarter. Quantamental Technologies LLC now owns 4,645 shares of the bank’s stock worth $110,000 after acquiring an additional 767 shares during the last quarter. USA Financial Portformulas Corp grew its position in OFG Bancorp by 7.9% in the second quarter. USA Financial Portformulas Corp now owns 9,030 shares of the bank’s stock worth $179,000 after acquiring an additional 664 shares in the last quarter. Finally, Zebra Capital Management LLC purchased a new position in OFG Bancorp in the second quarter worth $217,000. Hedge funds and other institutional investors own 94.77% of the company’s stock.

OFG Bancorp Company Profile

OFG Bancorp, a financial holding company, provides various banking and financial services. It operates in three segments: Banking, Wealth Management, and Treasury. The company offers checking and savings accounts, as well as time deposit products; commercial, consumer, auto, and mortgage lending products; financial planning, insurance, financial services, and investment brokerage; and corporate and individual trust, and retirement services.

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